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Short Sales >5. What If My Lender Refuses My Short Sale Request?

The most common reason for a lender to refuse a short sale request is loss. That is, the lender will refuse a short sale if their calculations suggest that they will lose less via a foreclosure. If this happens to you:

Step 1: Demand a written letter from the loan servicer explaining exactly why the request has been denied.
Step 2: Figure out and write down the projected losses youll experience if the home is foreclosed on as opposed to sold as a short sale.
Step 3: Notify the company handling the loan that if the house is foreclosed on, you will be suing them for the damages you documented in Step 2.

If you follow this procedure, you should be in the clear either way. Either your home will be sold as a short sale like you previously wanted, or you will have the potential to regain your losses after foreclosure from the lawsuit. Your best strategy for navigating the short sale process is to work with a qualified agent who can assist you. The agent will help you work through the process and/or any contingency plans.

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Q	What country of the world has the highest percentage of private housing?
A	Mongolia, where 100% of all properties are owner-occupied.
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Ana Lucia Porter, REALTORÂŽ, real estate agents and broker for Columbia, Ellicott City and Clarksville Maryland home listings, property and land for sale - NUMBER1EXPERT(tm)

Ana Lucia Porter
RE/MAX 100
11000 Brokenland Parkway, #200
Columbia
MD, 21044
Office: 410-730-6100
Blackberry - Cell: 443-286-2137
Toll Free : 877-715-3255
Fax: 410-740-8258
Email: maryland-real-estate@NUMBER1EXPERT.com
Direct email: marylandhomes@mindspring.com
Ana Lucia Porter is a highly effective REALTOR who brings 29 years of full-time real estate sales and marketing experience to help you achieve your goals. Ana Lucia holds the designation of Graduate of the Realtors Institute and the Certified Residential Specialist (CRS) In her own words: "I strive to use the most modern technology to help achieve the goals of my clients while always remembering that the human side of a residential real estate transaction is the most important."

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